Termination of Demand Registration Rights. The registration rights afforded to each Stockholder under this Section 2 shall terminate on the earliest date when all Registrable Securities of the Stockholder either: (i) have been publicly sold by the Stockholder pursuant to a Registration Statement, or (ii) may be sold by the Stockholder pursuant to Rule 144 without regard to both the volume limitations for sales as provided in Rule 144 and the limitations for such sales provided in Rule 144(i), if applicable, as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected Holder in its reasonable discretion.
Termination of Demand Registration Rights. The registration rights afforded to each Holder under this Section 2 shall terminate on the earliest date when all Registrable Securities of the Holder either: (i) have been publicly sold by the Holder pursuant to a Registration Statement, (ii) have been covered by an effective Registration Statement which has been effective for an aggregate period of sixteen (16) months (whether or not consecutive), provided, however, the time period shall be calculated so as to exclude any Grace Period, or (iii) may be sold by the Holder pursuant to Rule 144 without regard to both the volume limitations for sales as provided in Rule 144 and the limitations for such sales provided in Rule 144(i), if applicable, as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected Holder in its reasonable discretion.
Termination of Demand Registration Rights. The rights of holders of Registrable Securities to effect Demand Registrations pursuant to this Section 2 shall terminate upon the earliest to occur of (i) the date that is five (5) years after the completion of the Company’s initial underwritten public offering of its securities pursuant to an effective registration statement under the Securities Act (an “IPO”), (ii) the occurrence of a Deemed Liquidation Event (as defined in the Company’s Second Amended & Restated Certificate of Incorporation, as amended from time to time) and (iii) as to any holder, such earlier time after the IPO at which such holder (A) can sell all shares held by it in compliance with Rule 144(b)(1)(i) or (B) holds one percent (1%) or less of the Company’s outstanding Common Stock and all Registrable Securities held by such holder (together with any Affiliate of the holder with whom such holder must aggregate its sales under Rule 144) can be sold in any three (3) month period without registration in compliance with Rule 144.
Termination of Demand Registration Rights. LLCP’s right to request Demand Registrations pursuant to this Section 2.1 shall terminate upon the date upon which LLCP and its Affiliates hold less than Three Hundred Thousand (300,000) Shares (including for the avoidance of doubt any shares issuable upon exercise of warrants, and ignoring any restrictions on exercise of such warrants). Notwithstanding the foregoing sentence, LLCP’s right to request Demand Registrations pursuant to this Section 2.1 shall not terminate as provided above, or shall be reinstated after any such termination, if, at the effective time of termination or thereafter, LLCP requests a registration of Registrable Securities on Form S-3 (or any successor form) under Section 2.3 and the Company is then ineligible to use such Form.
Termination of Demand Registration Rights. LLCP’s right to request Demand Registrations pursuant to this Section 2.1 shall terminate upon the earlier to occur of (a) the date upon which LLCP no longer owns or holds at least five percent (5.0%) of Common Stock then outstanding and (b) the fifth year anniversary of the date upon which all Indebtedness and other amounts owing under the Notes have been indefeasibly paid in full. Notwithstanding the foregoing sentence, LLCP’s right to request Demand Registrations pursuant to this Section 2.1 shall not terminate as provided above, or shall be reinstated after any such termination, if, at the effective time of termination or thereafter, LLCP requests a registration of Registrable Securities on Form S-3 (or any successor form) under Section 2.3 and the Company is then ineligible to use such Form.
Termination of Demand Registration Rights. Each Investor's entitlement to registration rights pursuant to this Section 7 shall expire as to any share of Stock upon (A) such share of Stock ceasing to be subject to this Agreement, (B) the sale of such share of Stock pursuant to an effective registration statement, (C) the sale of such share of Stock pursuant to Rule 144, or (D) the date upon which such share of Stock has been Transferred and, in connection therewith, an unlegended stock certificate for such share has been issued, thereby permitting the sale of such share of Stock absent registration under the Securities Act.
Termination of Demand Registration Rights. The right of any Holder to request registration of Registrable Securities in any registration pursuant to Section 2.2 hereof shall terminate upon such time as such Holder holds less than 10% of the Company’s outstanding Common Stock and the Company has completed its Qualified Initial Offering.
Termination of Demand Registration Rights. The right of any Holder to request registration or inclusion of Registrable Existing Securities in any registration pursuant to Section 3 shall terminate upon the earliest to occur of:
Termination of Demand Registration Rights. The demand registration rights granted pursuant to this Section 2.01 shall terminate two years following the date of this Agreement.
Termination of Demand Registration Rights. As to any particular Registrable Securities, such securities will cease to be Registrable Securities when they have been (a) sold or distributed pursuant to this Section 4, (b) such Registrable Securities shall have been otherwise transferred and such securities may be publicly resold without registration under the Securities Act and (c) on the first date following date where such Registrable Securities could be sold by the applicable Holder under Rule 144 without manner of sale or volume limitations under the requirements of Rule 144.
